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The first budget for next year has been prepared under the Yoon Seok-yeol administration.

The plan is to reduce the national debt, which currently stands at over 1,000 trillion won, over the next five years, while providing more budgetary support to the socially disadvantaged, such as the vulnerable and the youth.



Correspondent Jo Ki-ho.



<Reporter> The



government's forecast for next year's revenue is 625.9 trillion won and expenditure is 639 trillion won.



Revenue increased by 72.4 trillion won and expenditure by 31.4 trillion won from this year.



Spending has grown an average of 8.7% per year over the past five years, but this time it has grown only 5.2%.



The intention is to reduce the national debt, which is over 1,000 trillion won, while reducing spending.



[Chu Kyung-ho/Deputy Prime Minister of Economy: The fiscal balance deteriorated rapidly due to continued expansionary fiscal management, and the national debt is approaching KRW 1,070 trillion, which is 50% of GDP.]



Budgets in the industry, SMEs and energy sectors are 5 trillion won compared to the previous year It decreased by 600 billion won, because the cost related to the corona virus has decreased.



Instead, the budget for the socially disadvantaged, such as welfare and employment, increased by 8.9 trillion won.



We deducted up to KRW 99 million for each of the property standards of livelihood and medical benefit recipients, and an emergency loan of KRW 166 billion was provided for victims of charter fraud.



It was decided to provide 400,000 won for moving expenses to residents of Banjihana Jjokbang Village, and an additional 100,000 won for self-reliance allowances for young people who became independent in daycare facilities.



We have also increased our budget for young people.



Next year, based on military sergeants, they will receive 1.3 million won from the previous 820,000 won.



If young people with less than 100% of the median income save 100,000 won a month, the government will provide up to 300,000 won to match the savings.



We also introduced measures to reduce the fertility, and from next year, we will change the infant allowance to parents' salary, and pay 700,000 won per month to 0-year-old parents and 350,000 won to 1-year-old parents, respectively.